As of July 1, 2021, pension savings in the amount of KZT 12.8 trillion were formed on the accounts of the contributors of the Unified Accumulative Pension Fund. For the year, from 01.07.2020 to 01.07.2021, the amount increased by more than KZT 992 billion, or 8%.
The main amount of pension savings was formed at the expense of compulsory pension contributions (CPC) and amounted to KZT 12.4 trillion (growth over the past 12 months was 8%). The amount of pension savings on compulsory occupational pension contributions (COPC) amounted to KZT 331.5 billion (an increase of 18%), the amount of pension savings on voluntary pension contributions (VPC) amounted to KZT 1.8 billion.
For six months of 2021, UAPF contributors contributed more funds than in the same period last year. As of July 1, 2021, pension contributions in the total amount of KZT 811.8 billion were received on the accounts of contributors, which exceeded the figure for the same period in 2020 by KZT 286.8 billion or 55%. Of the total amount of contributions, 95.6% are receipts to the UAPF on CPC - KZT 602.2 billion (growth over the last 12 months - 20%), on COPC received KZT 27.3 billion (growth by 14%), KZT 299 million (growth 39%) was transferred as the VPC.
In addition to the contributions of the contributors themselves, a significant increase in pension savings was provided due to net investment income, which from January 1 to July 1, 2021 amounted to KZT 753.3 billion, which exceeds the figures for the same period last year by 39% or KZT 210 billion. The return on pension assets of the UAPF under the management of the National Bank of the Republic of Kazakhstan from the beginning of the year as of July 1 was 6.1%, with inflation being 4.6%. At the same time, the return for the last 12 months was 12.1%, while inflation for the same period was 7.9%.
The number of individual pension saving accounts in the UAPF as of July 1, 2021 amounted to 11.6 million units. The largest number of accounts was opened for compulsory pension contributions (CPC) - 10,907,549 units. Then there are the accounts formed at the expense of COPC – 526,674 units, the number of accounts at the expense of VPC in the UAPF is now 47,490 units.
Since the beginning of the year, the UAPF contributors have been paid over KZT 1.7 trillion, most of the benefits were lump-sum pension benefits - KZT 1.6 trillion. The second in terms of the amount of payments were benefits by age - KZT 46.8 billion. This is followed by: transfers to insurance organizations - they amounted to about KZT 37.7 billion, benefits to heirs - KZT 30.5 billion, in connection with leaving for permanent residence outside the Republic of Kazakhstan - KZT 17.3 billion, for burial - KZT 2.5 billion and benefits for disability - KZT 1.1 billion.
It should be noted that the amount of the average monthly benefit according to the schedule (in connection with reaching the retirement age) was 28 708 tenge, and the maximum amount of the monthly payment was 673 643 tenge.
The UAPF was established on August 22, 2013 on the basis of GNPF APF JSC. The UAPF founder and shareholder is the Government of the Republic of Kazakhstan represented by the State Institution “Committee of State Property and Privatization” of the Ministry of Finance of the Republic of Kazakhstan. UAPF pension assets are managed by the National Bank of the Republic of Kazakhstan. From January 1, 2016, the functions for developing proposals to improve the management of pension assets were transferred to the National Fund Management Council. In accordance with the pension legislation, the UAPF attracts compulsory pension contributions, compulsory occupational pension contributions, voluntary pension contributions, pension benefits, individual accounting of pension accumulations and benefits, provides the contributor (beneficiary) with information on the status of his pension accumulations (for more information visit www.enpf.kz)